Latest / Becker’s Healthcare Digital Health + Health IT / 12 of the most valuable digital health companies,Highmark's Google, Epic partnership to save $2.7M + more

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12 of the most valuable digital health companies,Highmark's Google, Epic partnership to save $2.7M + more · Becker’s Healthcare Digital Health + Health IT

• 0:00
  - Welcome to the Becker's Healthcare Podcast.
• 0:02
  We at Becker's are excited
• 0:04
  to welcome more than 2,500 healthcare executives
• 0:07
  to Chicago in April for our annual meeting.
• 0:10
  Over the four day event,
• 0:11
  you'll hear more than 450 elite hospital
• 0:14
  and health system executives share the big ideas
• 0:16
  and best strategies driving healthcare forward.
• 0:19
  Visit conferences dot becker hospital review.com to register
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  or email agenda team at becker's healthcare.com.
• 0:26
  This event is closed in non-providers
• 0:27
  unless coming through a sponsorship or exhibit.
• 0:30
  Without further ado, here is your daily news news briefing
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  for today, February 26th.
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  First, the value of digital health companies grew quickly
• 0:39
  during the pandemic as healthcare was
• 0:41
  forced out of the hospital.
• 0:43
  However, funding has dried up in the last two years.
• 0:46
  In 2023, global digital health funding have
• 0:49
  for the second year in a row with us,
• 0:51
  $13.2 billion raised in 1,397 deals.
• 0:56
  According to CB Insights, deal size was around 4 million,
• 1:00
  and the medium digital health deal size trended upward.
• 1:03
  However, there were only 300 do a hundred million dollars
• 1:06
  plus deals in the fourth quarter of last year,
• 1:09
  and the digital health unicorns are becoming
• 1:11
  even less common.
• 1:13
  The digital health market has also seen con
• 1:16
  consolidation in partnerships
• 1:17
  to further integrate into hospitals and health systems.
• 1:20
  Yahoo Finance compiled the 12 most valuable US based digital
• 1:23
  health companies based on current market caps
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  and found that CVS came in at number one.
• 1:29
  Dexcom came at two I-Q-V-I-A came at number three.
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  Number four is Veeva Systems.
• 1:35
  Number five is simulations, plus number six is Doximity.
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  Number seven is Health Catalyst number eight is Neuro pace.
• 1:42
  Number nine is DOT go 10 Murano, 11 Amwell,
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  and 1223 and me second.
• 1:51
  Pittsburgh based Highmark Health will be using technology
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  from Google Cloud
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  and EHR vendor Epic Systems in an effort
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  to enhance data collection
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  for healthcare providers and payers.
• 2:01
  CNBC reported by merging Epic's payer platform,
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  which facilitates the exchange of patient data
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  between payers and providers.
• 2:09
  With Google's analytics
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  and AI capabilities, Highmark aims to streamline access
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  to vital patient information.
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  This includes information such as upcoming visits,
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  medical history, and syringe claims,
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  and health plan benefits.
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  Typically, this information is scattered across various
• 2:25
  databases and format formats, which can be challenging
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  for healthcare professionals
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  and insurance personnel to locate efficiently.
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  But with this integration,
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  Highmark says it will automate administrative tasks
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  including prior authorization.
• 2:40
  Tony Farrah, chief Medical
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  and Clinical Transformation Officer at Highmark mentioned
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  that the integration will also assist physicians in making
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  more informed decisions regarding appropriate next steps,
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  ultimately leading to a reduction in the cost
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  of care proof patients.
• 2:55
  Dr. Farrah told CNBC doctors don't need help once
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  - They have information.
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  The problem is they don't have it.
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  The idea is to bribe this type
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  of actual information well ahead of time, anytime
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  of the day end quote.
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  Additionally, Highmark said, the integration will facilitate
• 3:10
  the aggregation of clinical data from its hospitals
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  providing convenient.
• 3:14
  Ask us for representatives from its health plan.
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  The technology is capable
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  of automatically notifying the health plan about forthcoming
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  patient visits, eliminating the need for manual processes
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  and improving efficiency.
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  According to Highmark, this integration is anticipated
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  to save approximately $2.7 million annually as estimated
• 3:33
  by its provider system through shared claims data.
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  Third, GE Healthcare is partnering
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  with Health Tech Company biopharmas
• 3:41
  to expand the application
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  of patient monitoring technology from hospitals
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  to the home of patients.
• 3:46
  Biopharmas, AI guided algorithms help provide insights
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  that can assist care teams in delivering personalized
• 3:51
  and efficient care at home.
• 3:53
  According to a news release from ge,
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  the partnership is looking to integrate BIOPHARMAS Virtual
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  Care at Home Solutions.
• 4:00
  With GE Healthcare's Monitoring
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  and Virtual Care Solutions, the aim is
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  to allow GE Healthcare to expand the continuum of care
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  behind the hospital, enabling care teams
• 4:08
  to have a comprehensive and continuous view of patients
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  beyond the hospital environment.
• 4:13
  With this, both companies are looking at ways
• 4:15
  to have more patients leave the hospital sooner
• 4:17
  and provide an option for care at home.
• 4:20
  Are you interested in engaging in dynamic conversations
• 4:22
  with hundreds of top health system executives
• 4:24
  and gaining valuable insight for your business?
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  Join the 300 plus sponsors
• 4:28
  and exhibitors at the Becker's 14th annual meeting April 8th
• 4:31
  through the 11th in Chicago.
• 4:33
  Email Jessica Cole at jCole@beckershealthcare.com
• 4:36
  to reserve your spot today.